MySpace has announced that nearly half its employees around the globe will be laid off in a broad restructuring of the foundering social network. About 500 employees, or 47% of the company’s global staff, will be let go, CEO Mike Jones said in a statement on Tuesday.
Universal Music Group and fashion designer Tommy Hilfiger are reportedly in negotiations to develop fashion collections for UMG's artist roster. Hilfiger's Music and Entertainment and Sports Holdings (MESH), which formed last year, is planning to launch the clothing lines this fall. The artists mentioned in the report are Justin Bieber and The Who.
Universal Music Group is donating over 200,000 historic master recordings to the Library of Congress. UMG’s donation is the single largest gift ever received by the Library’s audio-visual division and the first ever major collection of studio master materials the Library has received.